In the frameworks of the Sixth International Scientific and Practical Conference “Resource Use in Ukraine. Prospects of Investments”, Miron Firman, the Director for Geology, JSC Ukrgasvydobuvannya, reported about the state and prospective of the Company resource development.

As of January 01, 2019, the Ukrgasvydobuvannya balance reserves made 554 bln.cub.m, but the most productive fields are depleted by more than 75%, and the natural decline reaches 1.5 bln. cub.m of gas per annum. In such conditions, it is vitally essential for the Company to replenish the resource portfolio with new sites and perform additional surveys of the available ones.

That is why Ukrgasvydobuvannya actively participated in three rounds of oil and gas auctions and acquired 14 new special permits since their beginning.

To improve the production performance and restrain the natural declines, the Company is implementing the large-scale work programme of 3D seismic according to the comprehensive azimuth method of research and modern specialized data processing and interpretation, as well the advanced techniques and technologies at all staged of geological exploration works, including geophysical studies of wells and geological risk assessment.

The presentation by Miron Firman is available at the link.

Additional information

The host of the Sixth International Scientific and Practical Conference “Resource Use in Ukraine.

Prospects of Investments" is the State Commission of Ukraine on Mineral Resources. The goal of the conference is to enhance the role of resource use in Ukraine, develop the international cooperation in resource use, solve the issues of fundraising to the mineral resources sector of the state, share experience in geological study and application of resources; discuss the relevant problems of geology and resource use; address the issues of mineral resources development in Ukraine; determine new areas of scientific research.